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Some international locations are already experiencing meals shortage, thereby inflicting meals costs on the shopper stage to rise, Jokowi famous.
“If we see the figures (in January 2022), (meals worth inflation) in Russia rose to 12.3 %, the US to six.9 %, and Turkey to 55 %. Alhamdulillah, we’re nonetheless at three (%),” the president remarked just about throughout an open session of the Tutorial Senate of the forty sixth Anniversary of Sebelas Maret College (UNS), as witnessed right here on Friday.
Jokowi defined that along with the paucity of meals, the world was additionally experiencing power shortage. In 2020, he affirmed that oil costs had been nonetheless at round US$60 per barrel.
Nonetheless, with the continued COVID-19 pandemic and the Ukraine-Russia warfare, crude oil costs in March 2022 had doubled to US$115 per barrel and in addition climbed to US$130 per barrel final week.
At the moment, Jokowi highlighted that Indonesia was nonetheless sustaining the promoting worth of power and meals for the group.
“Most international locations have elevated the promoting worth for the group. We nonetheless keep it. (I urged) Mrs. finance minister on how lengthy we must always keep it,” the president said.
The president careworn that Indonesia was lucky to nonetheless be capable of management the inflation as in comparison with different international locations that had even touched double-digit inflation.
In January 2022, Russia’s inflation was recorded at 8.7 %; India, at six %; the US, at 7.5 %; the European Union, at 5.1 %; and Turkey, at 48.7 %. In the meantime, the rise in inflation in Indonesia throughout the identical interval was solely at 2.2 %.
Therefore, Jokowi emphasised the necessity for meals and power stability by way of financial transformation.
Financial transformation is thru the downstreaming of industries by optimizing manufacturing of semi-finished and completed items somewhat than producing uncooked supplies in mining and agricultural commodities.
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